Keefe, Bruyette & Woods Cuts Onity Group (NYSE:ONIT) Price Target to $55.00

Onity Group (NYSE:ONIT) had its price target trimmed by Keefe, Bruyette & Woods from $58.00 to $55.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a research report on Wednesday, August 5th. BTIG Research dropped their target price on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Texas Capital raised shares of Onity Group to a “strong-buy” rating in a research note on Wednesday, June 10th. Finally, Wall Street Zen cut shares of Onity Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Onity Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

Onity Group Price Performance

Shares of Onity Group stock opened at $39.17 on Wednesday. The firm has a market cap of $327.23 million, a PE ratio of 2.53 and a beta of 1.46. Onity Group has a 12-month low of $33.00 and a 12-month high of $54.10. The company has a quick ratio of 46.07, a current ratio of 16.60 and a debt-to-equity ratio of 11.41. The company’s fifty day simple moving average is $38.34 and its two-hundred day simple moving average is $39.94.

Onity Group (NYSE:ONIT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of $0.95 by ($2.48). Onity Group had a net margin of 12.34% and a return on equity of 8.27%. The firm had revenue of $281.00 million for the quarter, compared to the consensus estimate of $272.45 million.

Institutional Trading of Onity Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after purchasing an additional 285 shares during the period. State of Wyoming bought a new stake in shares of Onity Group during the second quarter valued at approximately $119,000. BNP Paribas Financial Markets raised its stake in shares of Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after acquiring an additional 2,486 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in shares of Onity Group in the fourth quarter valued at approximately $209,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Onity Group in the second quarter valued at approximately $184,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

About Onity Group

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.